Presidential Decree No. 1871 (PD 1871) — Amending Section One of Presidential Decree Numbered Thirty-Two
WHEREAS, the Asian Development Bank (ADE) con ducts a
general review, and whenever appropriate approves the increase of the Bank's
authorized capital stock and subscriptions of member countries including the
Philippines;
WHEREAS, on 25 April 1983, the Board of Governors of the
Bank adopted Resolution No. 158 which provides for a third general increase in
the Rank's authorized capital stock and for subscriptions to such increase by
the Bank's members; and
WHEREAS, there is a continuing need to meet any increase in
the subscription of the Republic of the Philippines to the capital stock of the
Asian Development Bank;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the
Philippines, by virtue of the powers vested in me by the Constitution do hereby
order and decree:
SECTION 1. Section 1 of Presidential Decree No. 32, is
hereby amended to read as follows:
SEC. 2. This Decree shall take effect immediately.
Done in the City of Manila, this 18th day of July, in the year of Our Lord,
nineteen hundred and eighty-three.
(Sgd.) FERDINAND E. MARCOS
President
Republic of the Philippines
By the President:
(Sgd.) JUAN C. TUVERA
Presidential Executive
Assistant
SECTION 1. The President of the Philippines is hereby
authorized to negotiate for the increase of the subscription of the Republic of
the Philippines to the capital stock of the Asian Development Bank in such
amounts as may be required by the Bank under the rules that may be promulgated
thereunder.
Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).
